The global homeland security market size is expected to reach
USD 452.46 billion by 2024 according to a new report by Grand View Research,
Inc. Technological advances in homeland security across the globe are expected
to drive the market over the forecast period. Asia Pacific is anticipated to
witness considerable growth owing to the advancements across emerging economies
such as China and India. Currently, police modernization along with tackling
terrorism is the largest growing segments in India with the increasing annual
spending.
Manufacturers in the
homeland security market are increasingly adopting mergers & acquisitions
as a part of their growth strategy. For example, in 2015, Harris Corporation
acquired Exelis Inc., which brings a strong portfolio of complementary
technologies. The acquisition also significantly enhances the company’s
position as one of the primary provider of mission-critical solutions while
expanding channels and product offerings to the growing customer base.
The Homeland Security
Advanced Research Projects Agency (HSARPA), established by the Homeland
Security Act of 2002, supports fundamental research to create revolutionary
changes in new capabilities, technologies and risk & threat assessments for
the Homeland Security Enterprise (HSE). It uses modernization and innovation
for scientific progress and produces front-line products. These products
support DHS components such as the U.S. Secret Service, U.S. Customs and
Borders Protection, the U. S. Coast Guard, and the Transportation Security
Administration.
Browse full research report on Homeland Security Market: https://www.grandviewresearch.com/industry-analysis/homeland-security-market
Further key findings from the report
suggest:
- Cyber security is anticipated to grow
at a CAGR of over 5.5% from 2016 to 2024, owing to the increasing number
of cyber crimes and rising privacy concerns. Cyberspace and its essential
infrastructure are vulnerable to a wide range of risk increasing from both
physical and cyber threats & hazards.
- The maritime segment accounted for
over 8% of overall revenue share in 2015, which is expected to grow over
the forecast period. It has become critical due to the rising number of
maritime threats, sabotage, piracy and unlawful acts. During recent years,
maritime terrorism has drawn considerable attention in the marine sector.
Incidents of maritime terrorism are very few as compared to piracy.
However, it attracts more media attention due to the involvement of
greater loss of life, property and consequential economic losses.
- Aviation segment is expected to
witness substantial growth at CAGR of nearly 5% over the period of 2015 to
2024. Airport safety has undergone enormous transformations after the
terrorist activities across the globe. Also, it has endured significant
improvements regarding protection. Several airports such as ODG (Paris),
Munich, Chhatrapati Shivaji Airport (India) and Narita (Tokyo) are
the examples of the change in airport protection technologies.
- Stringent government guide lines
worldwide are expected to regulate the global homeland security market
over the future. North America dominated the industry contributing to over
25% of the global revenue in 2015. The presence of several prominent
homeland safety solutions manufacturers in the region is expected to
generate high demand over the forecast period.
- Key industry participants include
FLIR Systems Inc.,Elbit Systems Ltd., General Dynamics Corporation, L-3
Communications Holding Inc., Harris Corporation, Megal Security Systems
Ltd., Safran SA, Raytheon Company, Thales SA and Unisys Corporation.
Manufacturers are steadily adopting innovative production techniques to
gain a competitive advantage over others.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/homeland-security-market/request/rs1
Grand View Research has segmented the global homeland
security market on the basis of application, type and region:
Homeland Security Type Outlook (Revenue,
USD Billion, 2015 - 2024)
- Aviation
security
- Maritime
security
- Border
security
- Critical
infrastructure security
- Cyber
security
- CBRN
security
- Mass
transit security
- Others
Homeland Security Regional Outlook (USD
Billion, 2015 - 2024)
- North
America
- Europe
- Asia
Pacific
- RoW
About
Grand View Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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